Bank of America Corp DE Has $3.07 Million Stock Holdings in Smith & Nephew plc (NYSE:SNN)

Bank of America Corp DE trimmed its position in Smith & Nephew plc (NYSE:SNN - Free Report) by 68.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 124,890 shares of the medical equipment provider's stock after selling 266,704 shares during the period. Bank of America Corp DE's holdings in Smith & Nephew were worth $3,070,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Smith & Nephew during the 4th quarter worth approximately $435,000. Jane Street Group LLC bought a new position in shares of Smith & Nephew during the fourth quarter valued at $2,831,000. Parvin Asset Management LLC acquired a new position in shares of Smith & Nephew during the fourth quarter worth $412,000. Northern Trust Corp grew its stake in shares of Smith & Nephew by 169.9% in the fourth quarter. Northern Trust Corp now owns 508,392 shares of the medical equipment provider's stock worth $12,496,000 after purchasing an additional 320,054 shares during the last quarter. Finally, Optiver Holding B.V. grew its stake in shares of Smith & Nephew by 213.9% in the fourth quarter. Optiver Holding B.V. now owns 207,419 shares of the medical equipment provider's stock worth $5,098,000 after purchasing an additional 141,337 shares during the last quarter. Institutional investors and hedge funds own 25.64% of the company's stock.

Smith & Nephew Trading Up 0.5%

Shares of SNN stock traded up $0.15 during mid-day trading on Wednesday, hitting $29.27. The company's stock had a trading volume of 492,026 shares, compared to its average volume of 792,624. The company has a market cap of $12.82 billion, a PE ratio of 13.55, a P/E/G ratio of 1.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 2.51. The company's fifty day simple moving average is $27.54 and its 200-day simple moving average is $26.61. Smith & Nephew plc has a 52 week low of $23.69 and a 52 week high of $31.72.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNN shares. Canaccord Genuity Group raised their target price on Smith & Nephew from $27.00 to $28.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. HSBC downgraded Smith & Nephew from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Wall Street Zen raised Smith & Nephew from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 26th. UBS Group downgraded shares of Smith & Nephew from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. Finally, Hsbc Global Res downgraded shares of Smith & Nephew from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $28.00.

Smith & Nephew Profile

Smith & Nephew plc engages in the development, manufacture, marketing, and sale of medical devices. It operates through the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management. The Orthopaedics and Sports Medicine and ENT segment consists of the following businesses: knee implants, hip implants, other reconstruction, trauma, sports medicine joint repair, arthroscopic enabling technologies, and ENT.